Shares of Super Micro Computer (SMCI 21.15%) are soaring on Wednesday. The company's stock gained 19.2% by 10:45 a.m. ET and had been up as much as 23.4% earlier in the day. The leap comes as the S&P 500 index gained 0.7% and the Nasdaq Composite gained 1%.Supermicro, a key partner of Nvidia, successfully met the deadline for its delayed 2024 financials. The numbers showed strong growth.Supermicro keeps its promiseThe company, which provides servers to artificial intelligence data centers, reported its FY 2 ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Charles Liang, CEO of Super Micro Computer, during the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023.Super Micro Computer shares rallied 20%% after the AI server company filed its delayed financial results by the Nasdaq's deadline.The company's auditor BDO wrote in the filing that the the consolidated financial statements for the fiscal year ending June 30, 2024 "present fairly, in all material respects, the financial position of the Company" and are "in conformity with accounting principl ...

Super Micro Computer NASDAQ: SMCI is a prominent player in the high-performance computing solutions sector and the company is experiencing a significant surge in its stock value. On February 25, 2025, Super Micro Computer filed its overdue annual report for the fiscal year 2024 (FY2024) and quarterly reports for the first and second quarters of the fiscal year 2025 (FY2025). This action has triggered a positive reaction in the market, with premarket trading up over 20%, suggesting a strong restoration of in ...

Group 1 - Super Micro Computer Inc. has regained compliance with Nasdaq's filing requirements, leading to a significant stock price increase of over 26% in premarket trading [1][5] - The company's stock has experienced a year-to-date increase of 51.55%, but has seen a recent decline of 22.64% over the past five days, indicating potential selling pressure [1][6] - Super Micro's sales more than doubled to $14.99 billion in fiscal 2024, driven by high demand for Nvidia's graphics processing units [5] Group 2 - The company submitted its delayed financial results for fiscal 2024 and the first half of fiscal 2025, which were confirmed by a new audit from BDO, although governance issues were flagged [4][6] - Technical indicators suggest resistance levels at the eight-day simple moving average of $50.28 and the 200-day simple moving average of $52.75, while support is indicated at $41.88 and $36.24 [2] - The Moving Average Convergence Divergence (MACD) indicator is at 5.80, indicating a bullish trend, but the Relative Strength Index (RSI) of 63.50 suggests the stock may be overbought [3]

Super Micro Computer was poised to be one of the better-performing semiconductor plays of last year. Then, in August, now-defunct short-selling activist group Hindenburg Research released a scathing report, which alleged widespread accounting malpractice at the company.In the aftermath, the business delayed the filing of crucial reports, and its auditor, Ernst & Young (EY) resigned. Unsurprisingly, Super Micro Computer stock (NASDAQ: SMCI) plummeted to a low of just $18.The road to recovery has been quite l ...

With a decade at a Big 4 audit firm specializing in the banking, mining, and energy sectors, I bring a strong foundation in finance and strategy. Currently, I serve as the Head of Finance for a leading owner and operator of retail real estate, where I oversee complex financial operations and strategy. I’ve been an active investor in the U.S. stock market for 13 years, starting with my very first paycheck. Over time, my portfolio has evolved to reflect a balanced approach, with a growing focus on value stock ...

Core Points - Super Micro Computer, Inc. has filed its 10-K for FY-24 and 10-Qs for Q1 and Q2-25, indicating a significant step in its compliance with NASDAQ regulations [1] - The company has successfully regained compliance with NASDAQ, which is crucial for maintaining its listing status [1] Financial Reporting - The filing of the 10-K and 10-Qs reflects the company's commitment to transparency and regulatory adherence [1] - The financial documents provide insights into the company's performance and operational metrics for the fiscal year and the first two quarters of the following year [1]

Key TakeawaysSuper Micro Computer shares surged after the company submitted its delayed financial reports just ahead of a deadline late Tuesday to avoid being delisted by the Nasdaq. The stock had tumbled during Tuesday's regular session amid concerns about whether the deadline would be met.The stock lost about half its value over the past year through Tuesday’s close. Super Micro Computer (SMCI) shares rocketed higher after the company submitted its delayed financial reports late Tuesday, just beating its ...

Financial Performance - Net income for the three months ended September 30, 2024, was $424.3 million, compared to $157.0 million for the same period in 2023, reflecting a significant increase [204]. - Net sales increased by 180.1% to $5,937.3 million for the three months ended September 30, 2024, compared to $2,119.7 million in the same period of 2023 [210]. - Sales of server and storage systems reached $5,747.8 million, a 192.3% increase from $1,966.6 million in the prior year [215]. - For the three months ended September 30, 2024, cost of sales increased to $5,161.7 million, a 192.3% increase from $1,766.0 million in 2023 [223]. - Gross profit for the same period was $775.6 million, up 119.3% from $353.7 million in 2023, resulting in a gross margin of 13.1%, down from 16.7% [222]. Sales and Market Performance - The United States accounted for 71.4% of total net sales, with sales increasing by 161.9% to $4,241.3 million [219]. - Asia saw a 323.3% increase in sales, reaching $954.6 million, representing 16.1% of total net sales [219]. - The increase in net sales was primarily driven by higher demand for GPU servers and high-performance computing solutions [218]. Expenses and Costs - Operating expenses increased by 47.0% year-over-year, representing 4.5% of net sales in Q1 2025 compared to 8.5% in Q1 2024 [210]. - Research and development expenses rose to $132.2 million, a 19.1% increase from $111.0 million in 2023, representing 2.2% of total net sales [229]. - Sales and marketing expenses increased by 85.2% to $68.9 million from $37.2 million in 2023, accounting for 1.2% of total net sales [229]. - General and administrative expenses grew by 98.5% to $65.3 million from $32.9 million in 2023, making up 1.1% of total net sales [229]. - Interest expense increased significantly to $17.4 million for the three months ended September 30, 2024, from $1.9 million in 2023, reflecting higher borrowing costs [233]. Taxation - The effective tax rate increased to 15.0% in Q1 2025 from 11.4% in Q1 2024 [210]. - The income tax provision for the three months ended September 30, 2024, was $74.7 million, a 269.8% increase from $20.2 million in 2023, with an effective tax rate of 15.0% [236]. Cash Flow and Capital Expenditures - Net cash provided by operating activities increased by $138.4 million to $408.9 million for the three months ended September 30, 2024, compared to $270.5 million in 2023 [240]. - Cash and cash equivalents were $2.1 billion as of September 30, 2024, up from $1.7 billion as of June 30, 2024 [237]. - The company anticipates capital expenditures for the remainder of fiscal year 2025 to be between $98.0 million and $108.0 million, focusing on global manufacturing capabilities and IT investments [246]. Internal Controls and Compliance - Management identified material weaknesses in internal controls over financial reporting, including issues with IT general controls and segregation of duties [256]. - The company is committed to remediating identified material weaknesses and plans to hire additional qualified personnel and conduct more training sessions for accounting staff [260]. - There were no changes in internal control over financial reporting during the quarter ended September 30, 2024, that materially affected the internal control environment [259]. - Management concluded that the condensed consolidated financial statements fairly present the company's financial position in conformity with GAAP despite the identified weaknesses [258]. - The company is evaluating its internal control environment to enhance its effectiveness and ensure timely and accurate financial reporting [260]. Foreign Exchange and Investments - The company reported a realized and unrealized foreign exchange loss of $0.3 million for the three months ended September 30, 2024, compared to a gain of $7.5 million for the same period in 2023 [253]. - The company maintains its investment portfolio primarily in money market funds, certificates of deposit, and auction rate securities [251]. - The company does not currently engage in foreign currency hedging transactions, limiting exposure to foreign currency exchange rate fluctuations [253]. - A 10% change in interest rates is believed to have no significant impact on the company's results of operations [252].